| Cash Flow for Panacos Pharmaceuticals Inc. (PANC) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | (37,459) | (38,110) | (59,078) | (18,162) | (22,353) | | Depreciation & Amortization | 538 | 751 | 628 | 974 | 1,061 | | Deferred Income Taxes | - | - | - | - | - | | Operating Losses | - | - | 37,151 | 3,603 | 1,540 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (81) | 323 | 111 | (5) | (96) | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | (249) | 1,314 | 1,440 | 833 | (659) | | Increase in Other Current Liabilities | 680 | (772) | (1,439) | (364) | (760) | | Decrease in Other Working Capital | (571) | 151 | - | - | - | | Other Non-Cash Items | 4,762 | 7,773 | - | - | - | | Net Cash from Continuing Operations | (31,035) | (29,630) | (21,646) | (12,944) | (21,212) | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | (31,035) | (29,630) | (21,646) | (12,944) | (21,212) | | | | Sale of Property, Plant, Equipment | - | - | 6 | 1,667 | - | | Sale of Short Term Investments | 250,674 | 244,119 | - | - | - | | | Purchase of Property, Plant, Equipment | (48) | (519) | (150) | (208) | (91) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (235,476) | (269,834) | - | - | - | | Other Investment Changes, Net | - | 51 | 550 | (250) | 925 | | Cash from Investing Activities | 15,150 | (26,183) | 406 | 1,208 | 833 | | | Issuance of Debt | 20,358 | 462 | 88 | - | - | | Issuance of Capital Stock | 1,019 | 1,698 | 104,659 | 12,567 | 21,727 | | | Repayment of Debt | (435) | (314) | (1,248) | (1,061) | (6,249) | | Repurchase of Capital Stock | - | - | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | (332) | (31) | - | (1,067) | 2,500 | | Cash from Financing Activities | 20,610 | 1,815 | 103,499 | 10,439 | 17,978 | | | | Effect of Exchange Rate Changes | - | - | - | - | - | | Net Change in Cash | 4,725 | (53,998) | 82,259 | (1,297) | (2,400) | | | Cash at Beginning of Year | 33,140 | 87,138 | 4,879 | 4,258 | 6,659 | | Cash at End of Period | 37,865 | 33,140 | 87,138 | 2,962 | 4,258 | | | |
